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Global molybdenum usage, output hit all-time high in 2011

Global production and consumption of molybdenum hit an all-time high in 2011, the International Molybdenum Association said late Wednesday.

"In terms of both production and use, 2011 was another record-breaking year for molybdenum," Tim Outteridge, IMOA's secretary-general, said in a statement.

Global use of molybdenum reached a new record high of 537.1 million lb in 2011, while full-year figures from IMOA also show global production at a new record of 534.6 million lb for the year.

The greatest usage of molybdenum in 2011 was recorded in China, where consumption increased to 168 million lb from 148.5 million lb in 2010.

Europe recorded the second-biggest share with 133 million lb, up from 113.9 million lb in 2010. The US and Japan were the third- and fourth-largest users of molybdenum, accounting for 76.7 million lb and 60.8 million lb, respectively.

Molybdenum is added to steels and cast irons to improve strength, toughness, hardenability and weldability for numerous applications in the automotive, shipbuilding, construction, mining, chemical, oil and gas and energy generation industries.

In stainless steels and superalloys, it improves corrosion resistance and high-temperature performance. It is also used in a variety of products from catalysts and lubricants to pigments and paint North America remained the biggest molybdenum-producing area in 2011, with production of 183.1 million lb, followed by China at 177 million lb.

South America was the third-largest region, accounting for 129.7 million lb in 2011, with other molybdenum-producing regions contributing 44.8 million lb.

For the fourth quarter of 2011, China's molybdenum production rose fractionally to 47.4 million lb from from 47.1 million lb in Q3, IMOA noted, while in the same quarter North American production fell to 39.4 million lb from 45.9 million lb in Q3. Production in South America rose 32.1 million lb in Q4 from 31.9 million lb the previous quarter.

China consumed 44.5 million lb of molybdenum in Q4, with Europe at 31.7 million lb, IMOA said, without giving comparative Q3 figures. The US and Japan consumed 18.3 million lb and 15.0 million lb, respectively.

IMOA is a non-profit trade association representing the interests of most of the world's molybdenum producers and converters, as well as consumers and traders.

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